Home Sales Increasing

For the second month in a row, existing home sales increased, signaling hope for a housing recovery. Previously owned homes sales increased 10% to a seasonally adjusted annual rate of 4.53 million units last month, up from a 4.12 million rate in August, according to the National Association of Realtors.

The report was much stronger than expected, as leading economists had predicted sales would inch toward an annual rate of 4.25 million units, according to consensus estimates from Briefing.com.

"A housing recovery is taking place," Lawrence Yun, NAR chief economist. "But the overall direction should be a gradual rising trend in home sales, with buyers responding to historically low mortgage interest rates and very favorable affordability conditions."

What signs of recovery are you seeing in your housing market?

Hot Topics- Tax Rate Extension

The tax rate extension issue has become very partisan, and virtually all Republican members of the House and Senate support at least a temporary extension of the current tax rates for all taxpayers. While most Democrats support extending the current rates for taxpayers in some categories, they are not supportive of an extension for taxpayers in the higher brackets. In addition, there continues to be debate in both parties as to whether the tax rate extension should be permanent, temporary, and if temporary, for what duration.

Positive progress recently was made on several legislative fronts:

• Congress approved a one-year extension of the existing loan limits for Fannie Mae, Freddie Mac and the Federal Housing Administration.
• Congress also unanimously approved a one-year extension for the National Flood Insurance Program (NFIP), until Sept. 30, 2011.

However, the House of Representatives and Senate both adjourned for their recess late last week without going to a vote on the issue of extending the current income tax rates or allowing the scheduled tax increases to take effect on Jan. 1, 2011.

Realogy CEO Richard A. Smith appeared on CNBC on Oct. 5, where he discussed this issue. He proposed that it stands to reason, if you reduce the spendable income of individuals and small businesses then there will be less money flowing into the housing market and the overall economy. In an already fragile economic environment, increasing income taxes on individuals and small-to mid-sized businesses cannot possibly help homebuyers or sellers. Higher tax rates on individuals earning $200,000 or more and families earning $250,000 and up clearly will have a negative impact on the move-up homebuyer segment, which history has proven is critical to a sustained recovery in housing.

What do you think should happen with the tax rate extension? Should it be permanent or temporary? Also what are your thoughts on the people in higher pay brackets getting taxed more? Or is it more fair to increase income tax for all taxpayers?

Single Family Home Analysis in South Miami

By Guest Contributor Charlette Seidel, Managing Broker, Coldwell Banker Residential Real Estate Coral Gables Sunset office.

Within the last 90 days, the single family home sales market has shown the following:

Coral Gables presently has 414 active listings, 81 under contract and 69 closed.

Coconut Grove has 177 active listings, 27 under contract and 25 closed.

Pinecrest has 183 listings, 32 pending sales and 42 closed sales.

Palmetto Bay has 136 active listings, 26 under contract and 21 closed.

South Miami has 31 active listings, 14 pending sales and 12 closed sales.

These numbers are in all price ranges.

#10 for Hot Commercial Investment Prospects

The Dallas-Fort Worth area ranked #10 of more than 50 U.S. cities listed in the "Emerging Trends in Real Estate" report. Austin ranked fourth and Houston eighth in the study, analyzing which cities will be next year’s hottest prospects for commercial real estate investment opportunities.

Dallas-Fort Worth was second only to L.A. as one of the best places to buy industrial properties. The report gave Dallas-Fort Worth high marks for stable housing prices, low taxes and business costs, and a sizeable talent pool.

How will strong commercial real estate investment opportunities impact the overall economic recovery?

Definitely Sell As Well

Contributed by Shane Howell, Sales Associate,Coldwell Banker Residential Real Estate Coral Springs office

If you read my first post you might get the impression I feel sellers are getting taken advantage of today. Not so...

The market is as the market does! There is absolutely nothing wrong with selling in today's market. If you need to, you have no choice, and if you want to, 100% go for it. Here is my list of reasons why sellers who want to or need to sell in today's market can sell & should sell!

1. Prices... The prices are what the prices are today. If you did not sell your home at the market highs, that's life. Everyone found out home prices do fall. If you need or want to sell you can make a "market" deal. Sellers who are pricing their homes at 3-year-old prices are not serious sellers. We are in a buyers’ market, no doubt. If you want to play in that market you need to play by a buyers’ market rulebook. From what I understand there needs to be a seller for a buyer. Make that you! Just temper your expectations.
2. As I mentioned in my previous blog post ...If you own a home at this point but want to participate in the market as a buyer you will need to sell your current home. Point being, you have a great opportunity to sell your current home and get a great deal on your next home.
3. The competition might get tougher...Unfortunately we are haunted by the "shadow inventory". That stockpile will come in the form of short sales, foreclosures, and reduced price sales. I truly believe if you want to sell your home now, you want to be done before the shadow inventory train comes. Every day you wake up over the near term will be the best day there is to sell your house...
4. I'm not going to get carried away...Listen, if you need to sell, you sell. If you want to sell, you sell. You cannot control the market, you take what it gives you. What you can do is price your home correctly, stage your home the best you can and get yourself the best most professional representation available. Understand the buyers are looking for deals in this market... if you were buying, you would be as well...

Get Pre-Approved……..(not pre-qualified)

Contributed by Shane Howell, Sales Associate, Coldwell Banker Residential Real Estate Coral Springs's office.

Would you spend MONTHS looking for a Porsche you could never buy? I don’t mean looking at pictures online. I mean going to car dealerships, talking to car salesman, test driving and working out deals at the fellows desk. No we would not. The most we would do is sneak into a dealership and admire the cars. Maybe we take one test drive (with much guilt). Then we get out of the dealership like a thief in the night!

Why is it that when we look for a home we do not apply the same principals. We look and look and look to find our dream home (with an agent driving you). Then once we find it we ask, “How am I going to pay for this”? How backwards does that sound? The above example is how 90% of people who plan on buying a home with a mortgage begin their process. One could argue that approach was viable when the banks were giving away money to anyone who wanted a home.

Things are very different now! Banks actually say no to loans, often. In today’s market you need to know exactly where you stand. It is important to be pre-approved, close to mandatory. Yes we are in a buyer’s market but in order to buy you must qualify! Qualifying these days is more than going on Yahoo and finding a mortgage calculator to figure out what a mortgage payment would be. Plus I am positive you gave yourself a preferred rate when deciding what YOU think you can afford every month. Did you remember the taxes, assoc. fees, insurance, PMI and many other items? Did you use the proper ratios when figuring out whether you qualify or did you just decide if the payment would be comfortable for you?

The pre-approval process is a painless exercise and can be done over the phone with one of our lending specialists with Sunbelt Lending. They will let you know based on your income, credit history and current liabilities how much of a loan you will be “pre-approved” for. As long as the info you are providing is accurate, you and everyone you come into contact with during your search knows you are not a waste of time and mean business. If we had a nickel for every person who bid on a home who then could not get financing…

Luckily for you we at Coldwell Banker are going to suggest that you get pre-approved from Sunbelt or any other reputable lender. Time is extremely valuable. We will help you use your time effectively and efficiently during your home search. That starts with pre-approval. Don’t’ be afraid to hear NO. If you do hear no stay home and play with the kids for now, it will be time much better spent.

Use the info from Sunbelt as a guide to improve your situation so that in the near future you can qualify…

World's Biggest Private Residence

According to Yahoo.com,India's richest man is finally planning a housewarming party for his 27-story palatial new home in Mumbai after 7 years of construction work. The home features:

• three helipads and an air-traffic control station on its roof
• a swimming pool and health club
• a salon
• mini-theatre
• 160 car garage on the first six levels
• lobby with nine elevators
• an inside garden that can accommodate trees
• ballroom

The 570-foot-tall glass tower, called Antilia, named after the mythical island in the Atlantic will require 600 staffers.

The house belongs to Mukesh Ambani, who owns much of the oil and retail giant Reliance Industries. He is estimated to be worth about $27 billion. Experts told the Guardian that "there is no other private property of comparable size and prominence in the world." Ambani, the fourth-richest man in the world, co-ran Reliance with his brother before the two had a falling-out and split the company. A Reliance spokesman told the Times the house would cost about $70 million, but the Guardian says it's closer to $1 billion.

If money isn't an option and you could build your own private residence...what luxury features would be must-haves in your dream home?

Dangers of Overpricing your Property- Part 2

Contributed by Sophia Nakis, Sales Associate, Coldwell Banker Residential Real Estate's South Tampa office

When interviewing Realtors be sure to thoughtfully consider factors other than price; don’t just choose the agent willing to list the home for highest amount. Selling a home can be an emotional experience and once you are sold on listing the home for the highest price you might think all other agents you have interviewed are willing to “give the home away”. This is most often not the case at all. Consider the marketing power and dollars at work for you. Is the broker small and local OR national with greater marketing reach? Is their personality one that you can work with for weeks or months to come? How do they find their buyers? What is their marketing plan and sales experience? Further, you may not want an agent with many listings… If they have 15 listings or more how will they ever be able to give you the attention your home will need? Indeed something to consider. Ultimately, look at the overall marketing plan and how your agent will position the home to get you the highest and best price.

In the case of custom homes and unique properties where there might not be available comparable sales, I like suggest to homeowners that paying for an appraisal by a third party would be a wise investment. Investing a few hundred dollars could ultimately save you thousands; I often reimburse the Seller at closing for this expense. Appraisals are a subjective process however learning more about an appropriate range is wise in helping you gain the knowledge to put pricing aside and to focus on hiring the best real estate professional to market and sell your home. I also find it helpful to take a few hours one weekend to visit open houses that are in your community and like your own. Getting to know the competition first hand can quickly give you perspective on how your home will appear to buyers.

In most cases, you should try to stay in line with the other home prices in the neighborhood. Otherwise, you may be sitting on your real estate listing for much longer than you want and it may cost you even more in the end.

Remember, if you sell high you will buy high. If you sell low you will buy low. If you don’t buy right away, well, then just save that cash or reinvest it in a rental property. Now is a great time to buy!

September South Florida Bankruptcies are up 49%

According to Paul Brinkmann’s article in the South Florida Business Journal, Miami-Dade, Broward and Palm Beach counties all saw a slight decrease in the number of bankruptcies filed in September, as compared to August The monthly rate of individuals and businesses filing bankruptcy, however, continues to be far higher than last year.

Personal bankruptcy filings, in the three-county areas, rose 49 percent, year-over-year, to 3,332 from 2,242, but were down 1.6 percent from August. Business bankruptcy filings rose 14 percent, year-over-year, to 115 from 101, but fell 3.3 percent from August.

Fore detailed figures from Miami-Dade, Broward and Palm Beach counties, read Paul Brinkmann’s full article.

Dangers of Overpricing your Property- Part 1

Contributed by Sophia Nakis, Sales Associate, Coldwell Banker Residential Real Estate's South Tampa office

Selling your home is a big step in your financial life and you most likely want to sell it within a reasonable amount of time. You might think that you know what your home is worth and you want to get as much of your equity as possible. This is completely understandable. When you blindly rely on a real estate professional to tell you what your home is worth, you could potentially be making a big mistake. I’m a Realtor and I do my best to inform my customers based on their needs and goals but you need to be aware of the dangers of overpricing your home and how it could potentially affect the sale and your bottom line.

Most home sellers are unaware of the dangers of overpricing a house. When you list your property for more than it is worth, there is a good chance that your home will not sell. The listing will sit and meanwhile you are required to keep the home in good showing condition and be flexible for viewing appointments. This can be daunting month after month. The most important factor for home Buyers is price regardless of what anyone else tells you. They do want the home to be beautiful and functional, but they also want to be able to afford the mortgage payment. There are several things you as the seller can do to help indicate your real market value at the time you plan to list it for sale on the market. The responsibility doesn’t always fall upon the Realtor’s shoulders even though they are the professional and have access to and knowledge of sales in your area.

The idea that a real estate agent might take on a listing that they know they cannot sell could be confusing. While it may not make sense, some real estate agents do this on a regular basis. The main reason that this strategy is commonly used is that real estate agents want exposure for himself and/or their broker. When they put their sign in your yard, they are putting a picture of their face, their phone number, and their website address out there. All of your neighbors will see the sign and they will get familiar to that real estate agent (branding). After a certain amount time, it will become ingrained in their minds and they could potentially call that real estate agent when they need to sell their home. Getting a listing is essentially free advertising for the real estate agent. You may notice in your own community some signs that have been lingering around much longer than the seller may like.

Texas — Top Population Magnet in U.S.

Texas is tied for top honors — with California and Florida — as one of America’s strongest population magnets. Each state is the top destination for relocations from six other states, according to a new report from the U.S. Census Bureau.

Texas is tied for first place as the prime destination for residents leaving the most states (6). Newcomers are arriving from Arkansas, California, Louisiana, New Mexico, Oklahoma and Tennessee.

The Census Bureau’s migration statistics cover the one-year period from 2007 to 2008, which coincided with the beginning of the economic downturn. How is the influx of newly arriving residents from other states impacting the economic recovery, plus housing and job markets?

Buyers Needn't Beware

Contributed by Shane Howell, Sales Associate,Coldwell Banker Residential Real Estate Coral Springs office

The gloom has gone on long enough. The doom has already passed. I realize it certainly doesn't feel that way, it never does during the perfect BUY MOMENT. That is where we find ourselves today; The Perfect Buy Moment. Why do I consider this a great time to buy? There are numerous reasons, most of them obvious. Below you will find my list of pros for buying in the near term.

1. Prices have come down - (I told you some were obvious). Prices have really come down significantly. I am not calling for a bottom here but there needs to be a time when buyers dip their toes into the water and make some offers. If you are buying a home today you are in the ultimate drivers seat. Go out there and find yourself a deal. Stop worrying whether prices are going to continue to drop. As long as you are not flipping the home and plan on being there long term you should feel comfortable buying during this historic point in time. No one can ever pick the bottom of any market. What we can do is make fiscally responsible purchases. A purchase we can afford. If you buy a home with fiscal responsibility and the intention of staying there 5-10 years now is a great time to buy.
2. Interest rates are a gift - Today as I write the interest rate on a 30-year fixed is 4.28%. Are you kidding me? Again I am not calling for a bottom because that is how you end up looking silly. What I can say for sure is that interest rates are at historic lows. Don't miss out on this opportunity!!
3. Selection - Add price (reason number 1) and low interest rates (reason number 2) to the amount of selection out there and you've got the making of some buyers fun.
4. You have minimal competition - Buyers are on the sidelines awaiting some signal from above that all is clear. Markets operate in a herd mentality, you want to be in your new home as an owner before all the buyers come back into the market. That way while you are sleeping at night not even thinking about real estate anymore the buyers are driving back up the value of EVERYONE'S homes. There is a saying in the stock market which is another passion of mine. "Buy ‘em when they hate ‘em - Sell ‘em when they love ‘em." Why? When they hate ‘em prices are dropping because there are way more sellers, when they love ‘em prices are rising because there are more buyers. Obviously we do not buy and sell homes like stocks but we certainly are in a "Hate ‘Em" moment --- SO BUY EM!!!

Billion Dollar Ideas

Recently this little movie came out about the back-story behind, this insanely-genius(I mean so smart you think he is a real-life superhero, because nobody can be this intelligent on so many different levels)college student's social network he created, maybe you have heard of it...it's called Facebook?

Yes, the well-known social networking site created by a 20-something college student could be worth $59 billion in 2011 and more than $100 billion by 2015, say some analysts when the company becomes public, which is expected to happen in 2011.

For those of you who have seen the well anticipated movie of the year and who were expecting for it to give you that nudge to get your creative juices going and come up with the next billion-dollar producing company, did it work? Did it make you think of something we are missing or needing in the real estate industry? Does their need to be a Facebook site, but just for real estate agents?

The Social Network is a movie tale for big dreamers. Mark Zuckerberg, the co-founder of Facebook stated, the biggest difference between the movie and real life stems from the fact that movie-makers "can't wrap their head around the idea that someone might build something because they like building things." The movie depicted the idea coming from him wanting to be cool and do it for a girl - maybe this is why the movie is fiction.

Proving that the expected is sometimes unexpected and that little hobbies can turn into big things, what do you think is the next Facebook? Do you think that Facebook and social media play a big part in today's marketing of real estate? Check out a Coldwell Banker Facebook page for industry news/info. “I really believe that all that we can do is focus on building the best thing and that over time people will remember us for that," said Zuckerberg. What do you think about the movie and the story behind it? Where do you think social media take will take marketing properties?

Buy or Sell First?

For homeowners planning to sell their home and buy another, it's the classic question, which came first, the chicken or the egg? In real estate it’s what to do…buy or sell first?

If you sell first, you may find yourself under a tight deadline to find another house, or be forced into a temporary living arrangement. If you buy first, you may be saddled with two mortgage payments for at least a couple months. You may need the money from the sale of your current home in order to pre-qualify for a loan for your new home. You may be facing a job relocation and need to sell quickly.

There are many variables involved; there is no universally correct answer. It all comes down to your specific circumstances. Generally, it seems to be less pressure when you sell first. But selling first isn't the perfect solution. Some of the issues that may come up include:

• Being forced out of your house before you have a new place available. Where will you live? Where will your kids go to school?
• Having to move twice. Do you want to go through the hassle? Where will you store your extra furniture while you live with family and friends or rent an apartment?
• Not being able to find a house you like. How long are you willing to live in temporary quarters until you find a suitable house?

For more information, read the Realtytimes.com article by Michele Dawson, found in Realtor.com.

How Low Can They Go?

As rates continue to drop, now maybe the time to evaluate your current housing situation. With rates at an all time low, about 4.19% for 30-year mortgages, the lowest level since 1971. The average rate on 15-year fixed loans also fell to 3.62%, the lowest on records dating back to 1991.

Rates on five-year adjustable-rate mortgages average 3.47%. Rates on one-year adjustable-rate mortgages rose to an average of 3.43% from 3.4%.

So what does this mean for current homeowners or people looking to purchase their first home? If you are in the right financial situation to buy and have a secure job, now maybe the time to start looking at buying or purchasing a move up home. Of course buying a home isn't right for everyone, but if you have the capital to invest the time is defintely now. Contact a real estate professional and speak to them about your options. You can't beat the home prices and current interest rates right now, but as we know the housing market changes and it won't last forever.

What do you think about the current rates?

Ready to buy a home?

Eight questions to help you determine if you are ready to buy a house.

• Can you stay put for three to five years?
• Does a home-improvement hobby sound exciting?
• Are your finances organized?
• Do you know your housing market?
• Can you scrape together enough cash?
• What’s your budget for ongoing costs?.
• Will your spare cash cover ongoing house costs?
• Can you compromise?

For the answers to these questions, read the full article from Realtor.com

10 Great Places to Retire in the U.S

Your retirement planning may include visions of a home close to the beach, mountains or a lake. Or maybe you're hoping for a Main Street kind of place, a walkable community or a budget-friendly locale.

Bankrate and Yahoo.com researched median home prices in some of the United States' top retirement spots, as outlined in "America's 100 Best Places to Retire.Median home prices in the 10 places Bankrate selected from the book's "top" lists range from $125,000 in Danville, Ky., to $639,500 in Carlsbad, Calif., with many homes priced in the high $100,000s to the low $200,000s.

Here's what you can expect from among the best places to retire in the U.S

Danville, Ky. Area median price: $125,000

Annapolis, Md. Area median price: $396,330

Woodstock, Vt. Area median price: $375,000

Asheville, N.C. Area median price: $192,500

Saugatuck-Douglas, Wis. Area median price: $204,000

Athens, Ga. Area median price: $137,000

Carlsbad, Calif. Area median price: $672,500

Naples, Fla. Area median price: $175,000

Bend, Ore. Area median price: $204,000

Coeur d'Alene, Idaho Area median price: $180,255

What do you think is a good average median price for retirement? What qualities are you looking for in your future retirement community?

The 200,000 mile machine

Contributed by Carlos Lobato, Sales Associate, Coldwell Banker Residential Real Estate Miami Lakes office

It’s not every day that you see a car with 200,000 miles on it. As a matter of fact, most people would cringe at the thought of driving a vehicle with such high mileage. But I know the owner of this one, and he wears it like a badge of honor! He makes the point that many years ago he stopped paying for this car, and it, in return, started paying him, through lower insurance rates, and by the mere fact that the car was paid off.

The dust is beginning to settle on what will undoubtedly be looked back upon as one of the most tumultuous times in real estate history, many may find themselves contemplating what decisions, actions, or proactive measures they would have taken, had they known then, that the unprecedented rise in real estate prices would eventually come to a screeching halt.

While the 200,000 mile machine is just a car, this owner’s example and experience can really be applied to the ownership of real estate. He started with a quality product, maintained it meticulously, and probably most important; when the inevitable urge came to trade-in or trade-up, subsequently creating more debt, he simply resisted. Now it might seem odd for a Realtor to be championing the idea of buying a property, and holding onto it for an extended period of time. After all, we real estate professionals derive our income from the buying and selling of others. Yet a conservative posture such as this is just what the doctor ordered in today’s real estate environment. This is not to say that the case is not overwhelmingly strong in favor of buying real estate today; inventory is plentiful, prices are attractive, and interest rates are at historical lows. In short, the next time you’re thinking about buying a home, think about the 200,000 mile machine.

P.S.I love my car!

Home Staging

HGTV Design Star, Jason Champion gave homeowners advice on staging their home when it’s on the market. Check out the October 12 segment done by Fox’s Good Morning Tampa Bay at Sarasota Coldwell Banker sales associate Linda Barchard’s listing at 2740 Harvest Drive in Sarasota,FL.

What tips and advice do you have for homeowners when listing their most prized possession? What should stay and what should go?

Kohl's hiring 40,000 holiday employees

The South Florida Business Journal reports that Kohl’s Corp. plans to hire 40,000 seasonal workers for the holidays, a more than 20 percent increase over last year, the company said Wednesday.

The company plans to hire an average of 35 workers for each of its 1,089 stores, in addition to 2,200 workers at its distribution centers and 60 workers at its credit operations, according to a news release.

Hiring began this month, and most jobs will be filled by mid-November. Holiday workers can work from a few hours to more than 20 hours a week, and typical jobs include unloading trucks, freight processing, stocking and cash register duties.

The Menomonee Falls, Wis.-based retailer (NYSE: KSS), hired about 33,000 holiday workers last year. It has 45 stores in Florida, nine of them in the tri-county area.

Do you think this is a sign that the economy is getting better? What are your thoughts?

Good Time to Buy a Home - 10 Reasons

Now is a particularly good time to buy a home, according to Wall Street Journal financial writer, Brett Arends.

1. You can find a good deal
2. Mortgage rates are low
3. You'll save on taxes
4. It will be yours
5. You’ll get more home for the money
6. Long term homeownership beats inflation rates
7. Equity and prices will increase
8. Forced savings
9. Great selection
10. Eventually, people will begin buying again

What signs of growth are you noticing in your local housing market?

Back to the future?

Contributed by Carlos Lobato, Sales Associate, Coldwell Banker Residential Real Estate Miami Lakes office

I’ve been having a text conversation with a potential home seller about the possibility of bringing a prospective buyer to see their property. The conversation has progressed to the point that I now have a scheduled appointment to bring that buyer to tour the property in the near future. Just this morning I received a text from the owner that essentially said this, “Bring me an offer for ‘x’ amount, no low-ball offers!”

To which I replied, “ I can bring you an offer for that amount if you can supply the 1.21 jigowatts of power required to transport us all back in time to the year 2006”. Now, I’m not quite sure how that went over on the other end, but I still have an appointment for this Saturday. I’m confident that all will be fine.

What are your thoughts on home deals being conducted through text messaging? Is this the future?

Tools for the New Homeowner

One of the perks of living in a condo or a rental unit is that you don't have to make your own repairs!

As a new homeowner, though, it's time to put on your "handyman" hat on. When you need a big job done like roofing and rewiring, you should still rely on a professional, unless you are truly versed in those specialties. That is definitely the recommendation.

But there are many small jobs which you will be able to fix on your own. Not only will doing it yourself save you money, but you'll experience a nice feeling of pride that you made whatever was broken, work again. To complete these jobs, you'll need some tools.

So, what tools will you need as a new homeowner? For a list of suggestions from our experts read Carla Hill’s article on Webcast City in Realty Times.

What other must-have tools or equipment could you recommend for the new homeowner?

Foreigners drawn by American Dream

Although foreign buyers comprise only a small share of homebuyers in the U.S., more and more of them are coming to America for the homeownership piece of the American dream.

28 percent or Realtors reported working with at least one international client in the past year, up from 23 percent during the previous year. Profile of International Home Buying Activity.

The recently released 2010 study of Realtors, spanning a year, ending in March 2010, found that 18 percent of all Realtors were estimated to have completed at least one international sale, an increase from 12 percent last year.

For more details see the Realtytimes.com article by Broderick Perkins.

Indoor air quality tips

How Dirty Is the Air In Your Home?

The Environmental Protection Agency (EPA) estimates that people spend 90% of their time indoors. However, that indoor air quality can be two to five times more polluted than the air outdoors. Indoor air pollution can threaten the health and lives of your family.

The single most effective way to keep the air in your home healthy is to keep the things that cause air pollution out of your home, including cigarette smoke, chemicals and excess moisture.

The second most important thing to do is to ventilate the house properly in order to pull dangerous pollutants out of the house. Run exhaust fans in your bathroom. Open the windows. Make sure you have a good exhaust system for kitchen appliances.

Some indoor air pollutants can kill. Among the most dangerous are these three:

1. Carbon monoxide: 400 die and thousands are sickened annually.
2. Secondhand smoke: 7,500-15,000 children are hospitalized or sickened with respiratory tract infections, and older adults with cardiovascular or lung illness are at higher risk of health problems.
3. Radon gas: It's silent. It's odorless. It's found in many American homes, and it is the second biggest cause of lung cancer, after cigarette smoke.

For more information on purifying the air in your home, read the American Lung Association's article in The Daily Green.

Can you think of any other pollutants or solutions?

$3.5M Home Sale - Highest in Weston Since 2009

Rose and Dean Sklar, sales associates at the company’s Weston Town Center office, recently closed a home at 3435 Stallion Lane in Weston for $3.5 million, representing the seller in the transaction. This is the highest priced sale in Weston since May, 2009.

The 8,500 square foot home has six bedrooms, each with their own private balconies and sitting rooms and 9 ½ baths. It is tucked away on a 1.7 acre panoramic waterfront lot. Other features of the home include a tennis court, 5-car garage, and a guest wing with a family room, bedroom and kitchen.

The state of the art kitchen with butler’s preparation area is perfect for entertaining large events as evidenced by a Weston Philharmonic Symphony event that recently took place at the home. Two, 500 gallon saltwater aquariums divide the kitchen from the two enchanting fireplaces that allow for the ultimate in luxury and romance.

Fall is here - 6 Ways to enjoy the season

The Daily Green’s Dan Shapley has some great ideas for ways to spend the fall season. Click the full article.

1. Winterize your home so you spend less on energy this winter. Particularly, now is the time to insulate, install new windows or do other energy efficiency improvements that qualify for federal tax breaks of up to $1,500. (Most tax breaks expire at the end of 2010, so don't delay!)
2. Start composting! The wealth of leaves that fall off trees (along with that jack-o-lantern) makes for a great source of material to start your compost. Move from basic composting to advanced as you learn to compost almost anything, reducing your household waste and waste-hauling expenses.
3. Go for a local fall hike, kayak trip or other outdoor adventure. Enjoy the fall foliage (hey - why do leaves change color, anyway?) and take some photos.
4. Plant fall bulbs so that you can enjoy early spring flowers next year. Don't forget to plant your own garlic, too. It's one of the easiest perennial vegetables to grow.
5. Head to the farmers' market for fall produce: The bounty of apples, greens, root vegetables, heirloom pumpkins and gourds and other produce is incredible at this time of year.
6. Start planning for your homemade Halloween costume, carve a pumpkin or put together your Thanksgiving menu, full of local, vegetarian, heritage turkey or even slow-cooker recipes.

Real Estate Mogul for President?

The guy who is famous for firing and for being on top of the real estate market...might be our next president? Well maybe it could give the real estate industry some exposure...

ABC News' Huma Khan reports today: The real estate tycoon turned reality TV host is thinking of a new career, again -- as president of the United States. Donald Trump said via phone on MSNBC's "Morning Joe" Tuesday that he is looking at a possible 2012 bid because "this country will not be great if something isn't done rapidly."

"For the first time in life, I am absolutely thinking about it," Trump announced.

Reports show that this is not the first time. "Trump has been flirting with the idea for nearly two decades," says MSNBC.

What are your thoughts on Donald Trump running for president? Is it good for the real estate industry? Will it have no impact? Or maybe it will just be entertaining?

Key Biscayne – Giving Back

Contributed by Susie Abell Manager, Coldwell Banker Residential Real Estate Key Biscayne office.

Coldwell Banker Residential Real Estate, located at 328 Crandon Blvd. in the Galeria Mall on Key Biscayne, will be the site of a Super Garage Sale to be held Saturday, October 16, from 9 am to 1 pm All proceeds go to the Coldwell Banker Cares Foundation which, in turn, donates funds to various local Miami-Dade charities as well as to Ronald McDonald House.

The civic-minded sales associates in this office are collecting and donating items for the sale which will raise money to help make a difference in the lives of local Miami-Dade residents. Some of the past recipients include Beaux Arts Museum, Best Buddies, Covenant House, Miami Rescue Mission, Centro Hispano Catolico, La Liga, Voices for Children (Guardian Ad Litem) and Habitat for Humanity.

In addition, this year part of the funds will go to Ronald McDonald House, located close to Jackson Memorial Hospital. This facility provides an opportunity for families to stay together while their child is being treated for a serious illness.

“We are delighted to be a part of this effort,” says Susie Abell, office sales manager. “It’s tough enough dealing with a seriously ill child. Ronald McDonald House welcomes the entire family and provides a safe haven during their difficult and stressful time. Our sales associates continue to work together to help change lives and give back to our communities.”

If you would like to be a part of the Key Biscayne community, here are a few properties that are For Sale right now:

201 Crandon Blvd. #443 151 Crandon Blvd. #208

Obama Federal Loan Modification Program – Important Info

There are certain requirements needed to apply and become qualified for the Obama federal loan modification program through your lender.

The Checklist for Getting an Approval under Home affordable modification plan:

1. Document a financial hardship situation in case of default
2. Loans on main residences
3. Loans begin before January 1, 2009
4. Existing payment equals more than 31% of gross monthly earnings including principal, interest, property taxes, homeowners insurance, homeowners dues etc.
5. Loan amounts less than $729,750 for 1 unit assets

Home affordable modification guidelines while applying:

1. Contact your lender and apply for to be considered for this government stimulus program
2. Homeowners applying for consideration must be assessed for eligibility
3. Get ready your financial statements detailing your income and expenses
4. Complete Borrowers report
5. Complete a confirmation of hardship and write Hardship Letter
6. Provide evidence of income-paycheck stubs, tax returns, award letters, roommate income, etc.
7. Provide 2 months bank statements
8. Required to provide copy of federal tax returns of last 2 years
9. Joblessness income would not be a problem in case you have 9 months of outstanding benefits.

For more information about qualifying for a HAMP loan, read the full mortgage 11.com article

Americans Believe Home Prices Hit Bottom

According to the latest National Housing Survey from Fannie Mae, Americans believe that home value prices have bottomed, though they still have an uncertain outlook on the housing market in general.

Mortgage borrowers and underwater borrowers are less disheartened about home ownership, while delinquent borrowers and renters remained negative, according to the survey results, which were accumulated in phone interviews with a random sampling of 3,001 members of the general public during July 2010.

The study found that 33 percent say they would likely rent their next home if they needed to move, up from 30 percent in January and 70 percent of Americans think it’s a good time to buy a house, which is up from 64 percent in January, and 67 percent think housing is a “safe investment.”

For the whole story, read Kelly Mellott’s story in ReverseMortageDaily.com

What do you think? Do you think home prices have hit bottom?

South Florida Foreclosures

According to a recent report by Realty Trac, one-third of south Florida’s homes sold in the second quarter of 2010 were foreclosures. Foreclosure sales rose by 7 percent as compared to the first quarter of the year.

There is a silver lining, though. For more information about South Florida foreclosures read the full South Florida Business Journal article by Darcie Lunsford.

Down the Drain: Garbage Disposal Dos & Don'ts

American Home Shield Home Warranty brings important home tips to you. Think you know everything about your garbage disposal...think again.

If your kitchen has a garbage disposal, you know how easy it makes mealtime clean up. But what you may not realize is that your disposal comes with some pretty important rules. Here are some of the most vital:

Do:

• Insert food slowly. Stuffing it all into your disposal at once can cause clogs and shorten the life of your system.
• Grind hard materials. Many people think food like chicken bones or small fruit pits are a no-no, but they can actually help clean the walls of the disposal.
• Use cold water for at least 20 seconds. This will solidify grease so that it can be ground up. Also, make sure that all food particles are washed completely down the drain.
• Keep it clean. One good way to eliminate drain smells is by grinding citrus fruit peels. You can also add a few drops of dish soap and let the disposal run for a few minutes.

Don't:

• Use hot water. This will make grease liquefy and build up, which can clog the drain.
• Grind fibrous or expandable foods. The former, like celery stalks and onionskins, can tangle up the disposal. The latter, like pasta and rice, can clog it.
• Turn off the motor too quickly. You'll want to make sure all food particles are completely ground. Once done, continue to run the water for at least 15 seconds to flush out particles.
• Wash coffee grounds down the drain. While they won't harm the disposal itself, they can clog pipes and drains.
• Forget to use it. Lack of use can cause rusting and corrosion, which can lead to premature system replacement.

Mortgage Minute: Conventional Derogatory Credit Updates

By Guest Contributor David Caporini, Senior Mortgage Advisor, Coldwell Banker Home Loans

Effective for new registrations on or after September 10, 2010, the requirements for re-established credit after a bankruptcy, foreclosure, pre-foreclosure, deed-in-lieu, or short sale have been updated to align with GSE requirements and current market conditions. These guidelines will apply to all conforming loans. Non-conforming loans will follow these guidelines unless stated differently within the product description.

Chapter 13 Bankruptcy: Chapter 13 Bankruptcy guidelines are being enhanced to allow a recovery period of 2 years after a dismissal or discharge when extenuating circumstances are documented. Previously, there was no reduced recovery period for extenuating circumstances.

Pre-Foreclosure / Short Sale / Deed-in-Lieu of Foreclosure Enhanced guidelines for pre-foreclosure, short sale, and deed-in-lieu of foreclosure now allow a shorter recovery period based on the Loan-to-Value ratio (LTV) of the loan. Previously, a deed-in-lieu required a recovery period of 4 years.

• 2 years from completion date; 80% max LTV

• 4 years from completion date; 90% max LTV

• 7 years from completion date; LTV follows product guidelines.

If extenuating circumstances can be documented, the recovery period is 2 years with a maximum 90% LTV.

Foreclosure: Foreclosure guidelines have been updated to reflect the requirement for a full 7-year recovery period. Previous guidelines allowed a 5-year recovery period. The recovery period with documented extenuating circumstances remains unchanged at 3 years.

Traditional Credit Requirement: Lastly, for borrowers who have re-established credit after a bankruptcy or foreclosure-related action, all references must be from traditional credit references, and one of the references must be housing-related. Previously, non-traditional credit references were permitted.

As a reminder, when mortgage insurance is required, extenuating circumstances are not permitted.

The Coconut Grove office is currently marketing the following exceptional property, click on any of the photos below to view additional information.

Apply online:

DALLAS #2 AMONG U.S. HOME PRICE APPRECIATION LEADERS

Texas could lead the nation in home price appreciation next year, with four cities among the top 10, according to a new reportfrom Veros Real Estate Solutions.

Dallas/Fort Worth ranks second — with a 2.7% increase projected — behind Houston on the list of U.S. cities where home prices are expected to rise the most in 2011, the report showed.

Amarillo is in third place, while Beaumont-Port Arthur ranks seventh. With four Texas cities expected to see home price appreciation next year, how will the economic recovery, housing and job markets be affected?

A Moving Image – Video is the Future of Real Estate Marketing

To say that the future of real estate advertising and promotion will depend on the internet may seem like an obvious point. Today’s savvy consumer is embracing marketing that utilizes emerging technology – 92% of prospective home buyers turn to the web to look for a home, and also for a real estate agent.

When it comes to what they discover once on line, they are learning that the days of relying on still imagery to promote available properties have already passed. The exciting evolution of today’s video technology is changing the way people shop for homes.

Professional video – and that means real, live video filming, not a “slideshow” of still images – is one of the most innovative methods now being used to market properties. Whether an agent simply sends a property video to a prospective buyer, uploads it to their website, develops a subscription list of prospects who receive their videos automatically or features them on You Tube via Coldwell Banker’s On Location Channel, video is the most compelling and appealing way to spread the word about today’s hottest new listings.

The On Location channel on YouTube has received 1,724,255 visits since its inception, and video content which has been uploaded there has been viewed 613,237 times. Coldwell Banker On Location currently has 2,228 subscribers who regularly receive updates about new videos on the channel.

Almost every real estate agent will acknowledge that the internet has dramatically changed the way people look for homes, and look for a Realtor. People enjoy seeing motion as opposed to still photos, and a live video can add drama and appeal to any home or condominium. Swaying palm trees, the surf rolling onto the beach and the movement of the sparkling water in the pool attracts more eyeballs, and keeps the viewer more involved in looking for properties online.

We invite you to visit the YouTube channel developed by Coldwell Banker at the On Location site. You’ll be able to pinpoint available properties in the Miami Beach area, watch videos on some of our finest residences being offered for sale, and also view videos with useful and informative tips about buying or selling your home. Log on today and enjoy the show!